Q1 2018 EPS Estimates for Concho Resources Inc Boosted by US Capital Advisors (CXO)

Concho Resources Inc (NYSE:CXO) – Investment analysts at US Capital Advisors lifted their Q1 2018 earnings per share estimates for shares of Concho Resources in a research report issued on Monday, Zacks Investment Research reports. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will earn $1.07 per share for the quarter, up from their previous estimate of $0.72. US Capital Advisors also issued estimates for Concho Resources’ Q2 2018 earnings at $1.18 EPS, Q3 2018 earnings at $1.24 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $4.76 EPS, Q1 2019 earnings at $1.64 EPS, Q2 2019 earnings at $1.64 EPS, Q3 2019 earnings at $1.70 EPS, Q4 2019 earnings at $1.75 EPS and FY2019 earnings at $6.73 EPS.

Several other analysts have also recently issued reports on the company. SunTrust Banks cut Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a report on Tuesday, February 6th. They noted that the move was a valuation call. Deutsche Bank assumed coverage on Concho Resources in a research note on Thursday, February 1st. They issued a “hold” rating and a $171.00 price target on the stock. Zacks Investment Research raised Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 price target on the stock in a research note on Thursday, February 1st. Sanford C. Bernstein assumed coverage on Concho Resources in a research note on Thursday, February 1st. They issued an “outperform” rating and a $187.00 price target on the stock. Finally, Stifel Nicolaus set a $195.00 price target on Concho Resources and gave the company a “buy” rating in a research note on Monday, January 29th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Concho Resources currently has an average rating of “Buy” and an average price target of $168.55.

Shares of Concho Resources (NYSE:CXO) traded up $4.02 during trading hours on Wednesday, reaching $145.68. The company’s stock had a trading volume of 604,190 shares, compared to its average volume of 1,249,788. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The stock has a market cap of $21,110.00, a PE ratio of 37.89 and a beta of 1.00. Concho Resources has a 12 month low of $106.73 and a 12 month high of $162.91.

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its stake in Concho Resources by 325.2% during the 4th quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock worth $137,000 after buying an additional 696 shares during the last quarter. C M Bidwell & Associates Ltd. grew its stake in Concho Resources by 1.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after buying an additional 20 shares during the last quarter. ING Groep NV purchased a new position in Concho Resources during the 4th quarter worth approximately $201,000. Commonwealth Equity Services Inc purchased a new position in Concho Resources during the 3rd quarter worth approximately $206,000. Finally, Park Avenue Securities LLC purchased a new position in Concho Resources during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.

In other news, VP E Joseph Wright sold 83,759 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total value of $12,418,946.93. Following the transaction, the vice president now owns 159,268 shares in the company, valued at approximately $23,614,666.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ray M. Poage sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the transaction, the director now owns 24,799 shares in the company, valued at approximately $3,741,425.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,759 shares of company stock worth $18,948,027. 0.99% of the stock is owned by corporate insiders.

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Concho Resources Company Profile

Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.

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Earnings History and Estimates for Concho Resources (NYSE:CXO)

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